PepsiCo said Monday it’s acquiring the prebiotic soda brand Poppi for $1.95 billion.

A growing number of prominent companies have scaled back or set aside the diversity, equity and inclusion initiatives that much of corporate America endorsed following the protests that accompanied the Minneapolis police killing of George Floyd, a Black man, in 2020.

PepsiCo and rival Coca-Cola are taking different paths on the issue of diversity.

PepsiCo says high prices and changing consumer tastes have weakened U.S. demand for its snacks and drinks.

PepsiCo lowered its sales forecast for the year after consumers in the U.S., China and elsewhere pulled back on its snacks and drinks.

PepsiCo reported higher-than-expected earnings in the second quarter but acknowledged that after raising prices every quarter for more than two years, customers are not buying as many of its snacks and drinks.

Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households.

PepsiCo saw lower demand for its drinks and snacks in the second quarter but higher prices continued to boost its bottom line.

PepsiCo will sell Tropicana and other juices to a private equity firm in a $3.3 billion deal.

Pepsi's plan to reduce plastic waste includes ditching plastic bottles for cans. The company said Friday that its Aquafina-brand water will soon be sold in aluminum cans at US fast food and restaurant chains beginning as soon as next year. "Tackling plastic waste is one of my top priorities and I take this challenge personally," PepsiCo CEO Ramon Laguarta said in a statement. The company said Bubly, its line of flavored sparkling water, will now only be offered in cans. Pepsi said it has committed to using only recyclable, compostable or biodegradable packaging by 2025, and it's pledged to make new plastic bottles using 25% recycled material.